Question
Question 1 BUSINESS LAWA close relative is not regarded as third
party for recovery against emotional distress.TrueFalse2 points
Question 2″One who waits too long to complain has indicated
satisfaction with the agreement despite the initial lack of true consent” is
the idea behind the doctrine of:2 points
Question 3A contract that is impliedly accepted by doing something
that objectively indicates agreement can be considered as a bilateral
contract.TrueFalse2 points
Question 4Fernando is the owner of Pick Food Restaurant. He makes
an oral agreement with Purple Lotus Works for the design and production of
5,000 unique custom-made dinner plates with the logo of Pick Food Restaurant on
them. Purple Lotus reworks its production schedule and creates dies to add Pick
Food Restaurant’s logo in the designer plates. A week later, Fernando calls
Purple Lotus and says that he no longer wants the plates and calls off the
deal. In this scenario, it is most likely that:2 points
Question 5Both federal and state laws spell out the specifics of
cybercrime. Which of the following statements is true of these laws?2 points
Question 6As used in the Uniform Commercial Code (UCC), the
concept “reasonable”:2 points
Question 7A petition for Chapter 13 proceedings can be initiated
by the:2 points
Question 8If a buyer accepts defective goods and wants to hold the
seller liable, the buyer must give the seller notice of the defect:2 points
Question 9Commercial frustration:2 points
Question 10A is designed to reach things belonging to the debtor
that are in the hands of third parties.2 points
Question 11Fungible goods are:2 points
Question 12Artisans who retain goods are liable for conversion if
they:2 points
Question 13Common law arises when:2 points
Question 14Blue laws are uniform across all states in the
country.TrueFalse2 points
Question 15Erik filed a case in a municipal court against Leela
for a minor criminal violation. Dissatisfied with the decision of the court,
Erik can now appeal the case in a court of record.TrueFalse2 points
Question 16Consideration can have legal value if the promisee:2
points
Question 17A party that enters into an illegal contract can
recover the considerations given if the party:2 points
Question 18A common defense to the tort of interference with
contract is:2 points
Question 19A building that deviates slightly from the contract’s
specifications does not qualify as substantial performance.TrueFalse2 points
Question 20A counteroffer:2 points
Question 21A contract is implied when the parties directly state
its terms at the time the contract is formed.TrueFalse2 points
Question 22A consumer who misuses a product:2 points
Question 23A conditional sales contract is an example of a(n):2
points
Question 24Assignments of future wages are not effective because:2
points
Question 25Bella is Ming’s babysitter. She takes Ming to the
amusement park for a roller coaster ride. Due to the intensity of the ride,
Ming, who has an especially weak heart, dies of a heart attack during the ride.
Which of the following concepts best fits Bella’s act of negligence?2 points
Question 26If Gwen hands Lisa a detailed offer for the purchase of
Lisa’s pottery wheel and Lisa signs the offer without changing any of its
terms, the parties have created a:2 points
Question 27A buyer is considered to have accepted a whole
commercial unit of goods if:2 points
Question 28A clothing store has opened a credit account in which
Judy, a college student, gets Alice, her older sister, to agree to pay the
amount owed on the account if Judy fails to do so. Which of the following
statements is true of this scenario?2 points
Question 29Beck tells his mom that he is thinking of selling his
vintage coupe to his neighbor, Sam, for $100. Beck’s mom calls Sam and tells
him about her conversation with Beck. Sam then calls Beck and tells him that he
accepts his offer. Under these circumstances, .2 points
Question 30According to the Fair Credit Billing Act (FCBA), if the
credit card holder thinks that the card issuer has made an error on the
statement, he has .2 points
Question 31A buyer is if he cannot pay his bills when they become
due.2 points
Question 32Blackhawk Corporation contracted to sell Greeneye
Corporation some materials that Greeneye needed to fulfill a contract it had
with a third party. Knowing that Greeneye was in desperate need of the
materials, Blackhawk called Greeneye the day before delivery was due and
threatened to withhold delivery unless Greeneye agreed to pay a higher price.
Greeneye could not get the materials elsewhere and would suffer a huge
financial loss without them, so it agreed to pay the higher price. Greeneye
later asserts that its promise to pay the higher price is unenforceable because
it was the product of duress. Which of the following statements is true of this
situation?2 points
Question 33A corporate manager looking for ethical guidance that
neither the law nor social norms accounts for must rely on:2 points
Question 34Corporations have long been considered “persons”
protected by some constitutional guaranties.TrueFalse2 points
Question 35A young American woman named Monica killed her
illegitimate child and buried the body in her backyard. Many years later,
Monica called Claudio, the local policeman, and told him the entire story over
the telephone before he could utter a single word. She then told him that
voices from her backyard told her to confess to the crime. Monica told the
police where to dig, and they unearthed a metal box containing the skeletal
remains of a baby in her yard. Which of the following statements would be true
of this scenario?2 points
Question 36Identify the statement that is true of perfection by
attachment of consumer goods.2 points
Question 37A liquidated debt is one that is due and certain, which
means that there is no dispute about the existence or the amount of the
debt.TrueFalse2 points
Question 38If a person has been discriminated by the government on
the basis of the fact that he or she is an illegitimate child, the regulation
will be evaluated under .2 points
Question 39Compensatory damages are also known as:2 points
Question 40A minor can disaffirm a contract if:2 points
Question 41Campus Bus Service entered into a contract with Smith
Bus Company to purchase 10 buses. One week before Campus Bus was scheduled to
receive the buses, a fire destroyed Smith’s warehouse and the buses inside. As
a result, Campus Bus had to purchase its buses at a slightly higher cost from
another manufacturer. Campus Bus sues Smith Bus for damages for breach of
contract under these circumstances. Assume Campus Bus did not bear the risk of
loss of the goods under the contract. In this scenario, .2 points
Question 42If a creditor owns a debt that is provable and
nondischargeable, he or she .2 points
Question 43A useful tool for understanding and persuading that
combines basic analytical thinking with recognition of the special features of
the underlying legal system is .2 points
Question 44A buyer has a retail store in Florida and the seller is
a manufacturer in California. If the buyer orders goods from the seller and the
goods are shipped “FOB Florida,” which of the following statements is true?2
points
Question 45Corporate codes of ethical conduct:2 points
Question 46Arbitration of disputes under the purview of “lemon
laws” under state statute is:2 points
Question 47Beck Inc., a food processing company in Chicago, placed
a phone order with Gary, a vineyard owner in California, for a certain quantity
of perishable products. The shipping term was “CIF” with payment to be made on
delivery. Gary contracted with a carrier to deliver the goods to Beck Inc.
However, he neglected to ship the goods under refrigeration. The goods were
loaded on a non-refrigerated boxcar and as a result the product was spoiled
when it reached Chicago. Under these circumstances, .2 points
Question 48Chuck Olson, aged 16, buys a used car from Bobby Duncan
Used Cars Center on September 15, 2006. Olson agrees to pay $200 a month for 12
months. A month after the purchase, Olson is involved in an accident that
wrecks the car. He immediately calls Duncan Cars and informs them that he is
disaffirming the contract. According to traditional common laws, which of the
following is most likely to be true?2 points
Question 49A donee beneficiary:2 points
Question 50A common law lien essentially includes:
Answer
